Cameron Diaz and Benji Madden keep us guessing with some serious bling

For Cailyn Cox, writing isn't just a hobby, it's her life. Passionate about Hollywood, she makes it her mission to find the most entertaining celebrity gossip for SheKnows readers. And when she's not enthralled in the celeb world, she's ...

The Other Woman actress was spotted at the Academy's Hollywood Costume luncheon on Wednesday sporting a brand-new accessory on the fourth finger of her left hand: a sparkling diamond ring.

According to People magazine, an eyewitness who was present at the event said that Diaz was really keen to show off her new bling and she kept "casually and constantly twirling her ponytail, showing off the ring and often playing with it."

The ring was actually made up of two: one a twisty, figure-eight design and one a diamond band. And it wasn't just being worn for the luncheon, because Diaz and Madden were spotted together (ring included) later that evening enjoying dinner with friends at the Italian restaurant Madeo in Beverly Hills, California.

A source revealed to People, "They arrived together with Benji driving. Cameron showed off her new ring and was smiling. They enjoyed dinner for several hours."

While a diamond ring on an engagement finger doesn't always mean the obvious, Madden's comments during a recent interview with Details have added fuel to the fire. Madden previously hinted at the fact that he wants a family, saying, "It's what every man wants, whether they admit it or not."

The lovebirds have been together since April, when matchmaker Nicole Richie introduced them, and they certainly appear to have hit it off. Madden has already met his lady's parents, and the couple is even rumored to have moved in together.

So, could these two have taken the next step in their relationship and gotten engaged? We hope so.